Correction: QUINTUPLE Leverage At CalPERS

Yesterday we wrote about the multiple levels of leverage implied by CalPERS’s plan to borrow to invest more capital into private equity. We neglected to include a level (subscription line leverage) that the Financial Times illustrates in an article entitled “Financial wizardry breathes magic into private equity returns” linked here and attached here.

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Lecturer at Stanford University and president of Govern For California

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